{"id":204571,"date":"2024-04-07T01:30:00","date_gmt":"2024-04-07T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=204571"},"modified":"2024-04-06T09:36:35","modified_gmt":"2024-04-06T16:36:35","slug":"no-eurusd-breakout","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/no-eurusd-breakout\/","title":{"rendered":"No EURUSD Breakout below the Triangle"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>On the weekly chart, there was still no EURUSD breakout below the triangle. The bulls want a reversal from a double bottom bull flag (Feb 14 and Apr 2) or a wedge bull flag (Dec 8, Feb 14, and Apr 2). The bears hope that this week was simply a pullback and hope to get at least another small leg to retest the March 29 low.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD Forex market <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> EURUSD chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle-680x383.jpg\" alt=\"EURUSD Weekly: Still no BO below Triangle, No EURUSD Breakout\" class=\"wp-image-204752\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week\u2019s candlestick on the&nbsp;<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>&nbsp;was a bull bar with a prominent tail above closing in its upper half and around the 20-week EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-consecutive-doji\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor the market to trade at least a little lower. Traders will see if the bears can create a breakout below the triangle or will the market trade slightly lower but find support around the bull trend line area.<\/li>\n\n\n\n<li>The market traded lower earlier in the week but found support around the bull trend line area.<\/li>\n\n\n\n<li>Previously, the bears got a reversal from a wedge bear flag (Nov 3, Nov 29, and Dec 28) and a lower high major trend reversal (Dec 28).<\/li>\n\n\n\n<li>They then got another leg down from a lower high major trend reversal (Mar 8).<\/li>\n\n\n\n<li>So far, they have not yet been able to create a strong breakout from the triangle pattern.<\/li>\n\n\n\n<li>They hope that this week was simply a pullback and hope to get at least another small leg to retest the March 29 low.<\/li>\n\n\n\n<li>The bulls got a 2-legged sideways to up pullback (Mar 8) from a double bottom bull flag (Dec 8 and Feb 14).<\/li>\n\n\n\n<li>They see that the current move is simply a pullback and want a retest of the March 8 high followed by a breakout above.<\/li>\n\n\n\n<li>They want a reversal from a double bottom bull flag (Feb 14 and Apr 2) or a wedge bull flag (Dec 8, Feb 14, and Apr 2) and want the 20-week EMA or the bull trend line to act as support.&nbsp;<\/li>\n\n\n\n<li>Since this week\u2019s candlestick was a bull bar closing in its upper half, it is a buy signal bar for next week albeit weaker (prominent tail above).<\/li>\n\n\n\n<li>The bulls need to create a follow-through bull bar closing above the 20-week EMA to increase the odds of a retest of the March High.<\/li>\n\n\n\n<li>The market is trading around the middle of the trading range which can be an area of balance.<\/li>\n\n\n\n<li>For now, traders will see if the bulls can create a follow-through bull bar or will the market continue to stall around the 20-week EMA area.<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>The EURUSD is in a 71-week trading range. (Trading range high: July 2023, Trading range low: Oct 2023).&nbsp;<\/li>\n\n\n\n<li>The EURUSD has been in a smaller trading range in the last 21 weeks.&nbsp;<\/li>\n\n\n\n<li>Traders will continue to BLSH (Buy Low, Sell High) within a trading range until there is a breakout with follow-through selling\/buying.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> EURUSD chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag-680x383.jpg\" alt=\"EURUSD Daily: No FT Selling, Wedge Bull Flag?\" class=\"wp-image-204755\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-No-FT-Selling-Wedge-Bull-Flag.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded lower earlier in the week but reversed higher from Tuesday onwards. Thursday and Friday were consecutive doji(s) trading around the 20-day EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-lower-high\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously<\/a>, we said that the odds slightly favor the market to trade at least a little lower. Traders will see if the bears can create follow-through selling below the bull trend line or not.<\/li>\n\n\n\n<li>While the market has traded below the bull trend line, the bears have not yet been able to create a strong breakout with follow-through selling.<\/li>\n\n\n\n<li>Previously, the bulls got a TBTL (Ten Bars, Two Legs) pullback forming a lower high (Mar 8).<\/li>\n\n\n\n<li>They hope to get another leg up from a double bottom bull flag (Feb 14 and Apr 2) or a wedge bull flag (Dec 8, Feb 14, and Apr 2).<\/li>\n\n\n\n<li>They want the 20-day EMA or the bull trend line to act as support. So far, the bull trend line is acting as support.<\/li>\n\n\n\n<li>The bulls want a retest of the March 8 high followed by a strong test and breakout above the bear trend line.<\/li>\n\n\n\n<li>The bears see the recent move (to March 8) simply as a two-legged pullback and a buy vacuum test of the small trading range high area.<\/li>\n\n\n\n<li>They got a reversal from a lower high major trend reversal (Mar 8) and a double top bear flag (Jan 11 and Mar 8).<\/li>\n\n\n\n<li>They want a retest of the February 14 low (even if it only ends up as a higher low). They got what they wanted and the retest formed a higher low (Apr 2).<\/li>\n\n\n\n<li>If the market trades higher, the bears hope to get a reversal from a double top bear flag with the March 8 high.<\/li>\n\n\n\n<li>For now, traders will see if the bulls can create follow-through buying following this week\u2019s close above the 20-day EMA.<\/li>\n\n\n\n<li>The EURUSD has been trading in a smaller trading range in the last 21 weeks. This week, the market reversed higher from around the low of the smaller trading range.<\/li>\n\n\n\n<li>The market is also trading around the middle of the larger trading range which could be an area of balance.<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>Traders will continue to BLSH (Buy Low, Sell High) within a trading range until there is a breakout with follow-through selling\/buying.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: EURUSD Forex On the weekly chart, there was still no EURUSD breakout below the triangle. The bulls want a reversal from a double bottom bull flag (Feb 14 and Apr 2) or a wedge bull flag (Dec 8, Feb 14, and Apr 2). The bears hope that this week was simply a pullback [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":204752,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1842,136],"tags":[281],"class_list":{"0":"post-204571","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-forex","8":"category-analysis","9":"tag-eurusd-forex","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Still-no-BO-below-Triangle.jpg","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/204571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=204571"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/204571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/204752"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=204571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=204571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=204571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}